Published on 1/4/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.22 million callable yield notes tied to PHLX, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Credit Suisse AG, London Branch priced $3.22 million of 9.5% callable yield notes due June 28, 2019 linked to the PHLX Semiconductor Sector index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless either index finishes below its initial level and either index closes below its knock-in level, 65% of its initial level, any day during the life of the notes, in which case investors will be fully exposed to the decline of the least-performing index.
The notes will be callable at par on any interest payment date after six months.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Callable yield notes
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Underlying indexes: | PHLX Semiconductor Sector and Russell 2000
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Amount: | $3,223,000
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Maturity: | June 28, 2019
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Coupon: | 9.5%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless either index finishes below initial level and either closes below knock-in level during life of notes, in which case full exposure to decline of least-performing index
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Call option: | At par on any interest payment date after six months
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Initial index levels: | 1,258.88 for PHLX, 1,544.226 for Russell
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Knock-in levels: | 1,003.7469 for PHLX, 818.272 for Russell; 65% of initial levels
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Pricing date: | Dec. 26
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Settlement date: | Dec. 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.625%
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Cusip: | 22550W2T3
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